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In the recent case of In re Read, WL 4104736 (Bankr. E.D. Wis. 8/19/14), the court held that a debtor could not start contributing towards a 401K plan after she filed for Chapter 13. In this case the debtor filed her case in January, but started contributing towards...
In the recent case of Okke v. Okke, 2014 WL 3578599 (Bankr. W.D. Mich. 7.17.14), the debtor’s ex-wife was ordered to pay the debtor $500 in damages and $9,000 as reimbursement of the debtor’s attorney’s fee for her violation of the automatic stay. In this case the...
We have all seen the ads: “Last week only!” “Going out of business sale!” “Everything must go! “Bankruptcy liquidation sale!” It seems like some furniture and carpet stores, in particular, are perpetually going out of business or filing for bankruptcy. However, they...
In a recent case, Wheeler v. Collier, 2014 WL 2155213 (W.D. La. 5.22.14), the court awarded a total judgment in the amount of $50,000 against a Louisiana law firm for collecting fees from their client after the bankruptcy case was filed. The firm charged the debtor a...
When considering the pros and cons of filing for bankruptcy, many people are concerned about the social stigma of filing for bankruptcy. They worry that their names will be published in the newspaper or that they will loose their jobs if their employers find out about...
The student loan debt crisis continues to have a major impact across the country, especially upon those graduates who as a result of having major medical bills besides the student loans, cannot afford to make their student loan payments. The Medical Bankruptcy...
In a recent case, In Re White, __ B.R. __ , 2014 WL 2960428 (Bankr. N.D. Miss. 7/2/2014), the Bankruptcy Court held that a debtor in a Chapter 7 case cannot deduct on his means test payments to creditors whose debt is secured by collateral he intends to surrender....
Debtors’ prisons were commonplace in the United States up until the mid-1800’s. In fact, several notable figures in the history of the United States served time in debtors’ prisons, such as Robert Morris, who signed the Declaration of Independence and served on the...
In the recent case of In re Heinzle, 2014 WL 2442261 (Bankr. W.D. Texas 5/30/14) the bankruptcy held that the debtors who completed all their plan payments to the trustee were nevertheless not entitled to a discharge because they were not current on their mortgage...
When people first get the news from their creditors or mortgage companies that their debt has been forgiven, they are thrilled—that is, until they get the tax bill. Under the tax laws, any amount of debt that is forgiven can be taxed as income. So, that $10,000.00...